Updated almost 4 years ago on . Most recent reply
Franchise or not to Franchise is the question?
Going back and forth with this question should I or shouldn't I. Recently I had a conversation with a franchise company called Home Vestors (We Buy Ugly Houses).
The pros that I see with investing with a franchise company are the business model, the advertising, the ease of borrowing money to fund many projects at once, the tools to evaluate your property before purchase, coaching, plus more.
The cons: The cost, ($30,000), monthly fees, royalty fees, Giving someone else money that can be used to purchase property or renovate.
My dilemma is this, I'm 56 yrs old and I want to retire in 10 years and what I don't want to do is tale 10 years to learn from my mistakes I would rather pay the cost to a franchise company that can minimize my mistakes so I can reach that 10 year plan a lot easier.
Some of these other real estate guru are charging a one time fee ranging from $20,000 up to $50,000 and then they're gone after 6 months or a year.
I have read some earlier post about home vestors franchise so I thought I would ask the question again, Is my scenario valid or am I procrastinating over this issue? Would it be better to pay a Guru the one time fee and move on?
I would love to hear the pro's and con's from this group.
Thank You